Joint venture for satellite technology in Saudi Arabia.
Taqnia Space, Skyware Technologies and Crescent have signed a joint venture agreement in Saudi Arabia with KACST (King Abdulaziz City for Science and Technology) as the technology partner. (KACST) is an independent Saudi scientific organisation with a long experience in research and development.
The created JV (joint venture) aims to be a global manufacturer of satellite equipment, with the initial focus on manufacturing an innovative HTS Ka terminal to provide high throughput for satellite fleets around the world. The new terminal will be serving both satellite service providers and operators in the Middle East, North Africa and worldwide.
H.H. Dr. Turki bin Saud, president of KACST and chairman of the board of directors for Taqnia said: "With the expected cooperation between the new joint venture and KACST as its technology partner, the joint venture and satellite RF manufacturing facility will help to propel the Kingdom of Saudi Arabia to become a leader in advanced integrated terminal solutions".
Eng. Abdullah Al-Osaimi, Taqnia space CEO said: "With the contentious changes in satellite market dynamics and the increased demand for high-quality managed satellite services, it has become essential for satellite operators to build their organic engineering expertise that relates to service components and to have a better control on service cost."
"Skyware Technologies has a reputation for developing sophisticated satellite terminals for government and military use and has considerable experience partnering with major international defense agencies, governments and leading industry bodies, including the European Space Agency," said David McCourt, Skyware technologies founder and CEO.
Crescent technologies' spokesperson Abdullah Al-Bawardy said: "Crescent is very excited about this opportunity as it sits within our core objective of bringing world-class partners together to create long-standing businesses in the Kingdom of Saudi Arabia."
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